Finance committee to discuss Winslow Way LID, mid-year finance report
August 4, 2009 · Updated 1:11 PM
The City Council Finance and Personnel Committee has a busy week ahead. Tuesday's 3 p.m. meeting will cover several important matters, two of which include the first action on the formation of a Local Improvement District for Winslow Way reconstruction and the discussion of the city's mid-year finance report.
The LID will total $1 million of the projected $11.5 million budget for the reconstruction, with 22 properties on Winslow Way footing the bill. Town and Country Market is on the hook for the most money, totalling $215,711.37.
Also on the agenda for the meeting is a question-and-answer session on the mid-year report that describes the city's revenue, real estate and other financial situations. As of June 30, the city collected a larger percentage of its forecasted revenue than it had at the same time last year. At this time last year, only 38 percent of the revenue had been collected, while this year nearly 47 percent has been secured. Ideally, said Finance Director Elray Konkel, the figure for percentage collected for the year should be 50 percent.
The agenda for the meeting is posted below.